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NAR settles commission lawsuits for $418 million

Housing Wire

The National Association of Realtors has agreed to pay $418 million in damages to settle the commission lawsuits. The story was first reported by the New York Times. NAR’s legal counsel approved the settlement agreement early Friday morning. It has yet to be filed in court. Lawyers for the trade organization told the Times that they anticipate the settlement will be filed in the coming weeks, however it will still be subject to court approval.

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WATCH LIVE: Ed Zorn, NextHome CEO on the $418M NAR settlement

Inman

NextHome CEO James Dwiggins, Strategic Officer Keith Robinson and Ed Zorn, the California Regional MLS general counsel, tackle NAR's big settlement. Stream it live, exclusively at Inman.

MLS 198
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Your Home Is a Powerful Investment

Keeping Current Matters

Going into 2023, there was a lot of talk about a possible recession that would cause the housing market to crash.

Marketing 239
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What to Do When a House Isn’t Selling

RIS Media

It can be frustrating and concerning when your house has been on the market longer than expected. You’ve made memories in this home and are likely looking forward to starting a new chapter elsewhere. However, when the sale stalls, it’s crucial to reassess your strategy. We will explore five actionable steps to boost your home’s… The post What to Do When a House Isn’t Selling appeared first on RISMedia.

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Need Curated Pre-foreclosure Lists to Generate New Real Estate Leads? Trellis Has the Data!

Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.

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What agents need to know about commission rule changes

Real Estate News

As a part of its proposed settlement, NAR agreed to significant policy changes that will impact how all agents do business — and how buyer agents get paid.

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Why Today’s Seller’s Market Is Good for Your Bottom Line

Keeping Current Matters

Thinking about selling your house and wondering if now’s a good time to do it?

Marketing 239
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Hilton heads back to campus with $210M Graduate Hotels acquisition

Inman

Hilton Worldwide Holdings has agreed to pay $210 million for the Graduate Hotels brand, a 10-year-old company that operates hotels in some of the nations biggest college towns.

Branding 186
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NAR Settles Commissions Suits For $418 Million, Removes Commission Offers from MLS

RIS Media

In what will certainly be one of the most important moments and choices in the history of organized real estate, the National Association of REALTORS® (NAR) has chosen to end its legal fight against a flood of commission lawsuits that have roiled the industry over the last five years, paying $418 million in damages and… The post NAR Settles Commissions Suits For $418 Million, Removes Commission Offers from MLS appeared first on RISMedia.

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Strong reactions to NAR commissions deal

Real Estate News

Opinions on the settlement range from concern that it will “spell disaster” for buyers to optimism that the quality of agent services will improve.

Agents 123
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Accelerating Real Estate Sales Pipelines to Streamline Buyer Journeys

Navigated 360° tours, like YourVRTours, advance pipelines by engaging clients further along the sales funnel. These immersive experiences provide comprehensive property insights, increasing buyer intent and readiness. By embracing navigated tours, agents can optimize property exposure, better qualify leads, and streamline the sales process. Stay ahead in the ever-evolving real estate landscape with innovative technology that elevates buyer journeys and progresses pipelines more effectively.

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HUD sued over alleged failure to refund mortgage insurance premiums

Housing Wire

The U.S. Department of Housing and Urban Development (HUD) is being sued in federal court over accusations that it failed to refund nearly $385 million in mortgage insurance premiums (MIP) to borrowers over a period of more than two decades. The lawsuit was previously reported by National Mortgage News and Law360. The proposed class-action lawsuit brought by Florida resident Tricia Sarmiento claims that HUD has failed to issue refunds tied to MIP payments on mortgages backed by the Federal Housi

FHA loan 479
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What Mortgage Rate Do You Need To Move?

Keeping Current Matters

If you’ve been thinking about buying a home, mortgage rates are probably top of mind for you.

Mortgages 224
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Brokerage BHS appeals orders to pay agent $977K for discrimination

Inman

Brown Harris Stevens of the Hamptons seeks to overturn rulings awarding Shauncy Claud nearly $1 million after a court found the firm wrongfully fired her for filing a discrimination complaint.

Brokerage 180
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Pillar To Post Launches Brand Refresh

RIS Media

Pillar To Post home inspection company has announced a complete brand refresh that is intended to provide new and existing franchise business owners with a more enticing and profitable franchise opportunity than ever before. The systemwide revamp is also intended to keep Pillar To Post on track with its anticipated growth goals. To expand its… The post Pillar To Post Launches Brand Refresh appeared first on RISMedia.

Branding 121
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Maximizing Your Online Presence: Tips for Real Estate Agents on Social Media

Speaker: Sarah Santa Ana, Real Estate Coach, Move4Free Realty

Networking is one of the crucial elements in every real estate organization's success. Both agents and real estate companies need to maintain robust networking links. This is why social media is essential for any real estate professional! Social media enables you to stay in touch with your present clients, maintain connections with your past clients, and engage potential customers and investors.

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New Listings “Normalize,” Inflation Ticks Up, and Airbnb Bans Indoor Cameras

Bigger Pockets

The Fed isn’t happy, but what’s new? After inflation numbers were released last week, showing higher-than-expected consumer price growth, our rate cut dreams could be slowly dwindling.

Marketing 101
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Rising home insurance costs are adding pressure for buyers: Insurify

Housing Wire

The dream of homeownership is becoming increasingly elusive for many Americans as both home prices and insurance premiums are on the rise. Over the past decade, home prices have nearly doubled, according to the S&P CoreLogic Case-Shiller national index. Homeowners insurance premiums are climbing too. The average cost of insuring a $300,000 property surged by 12% in 2023, reaching $1,770 per year, according to a recent Insurify report.

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4 Tips To Make Your Strongest Offer on a Home

Keeping Current Matters

Are you thinking about buying a home soon?

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Born into real estate royalty, Farrah Brittany makes the tough look easy

Inman

Brittany started out as an assistant at The Agency when it first opened its doors in 2011 and is now one of the firm's most rock-solid agents. She said her family's connections and her own work ethic have helped shape her career.

Agents 180
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Rise of The Apps: Building Your Dream Tech Stack For Real Estate Success

Speaker: Trey Willard, Realtor/Team Leader at Keller Williams Realty, Inc.

In order to create continued success in today’s real estate market, realtors need to utilize an arsenal of technology that will increase their efficiency and presence on social media. Using technology to manage your prospects and tap into their needs through websites, social media, and other channels is critical for real estate success in 2022 and beyond.

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3 Reasons Your Business Can’t Completely Rely on AI

RIS Media

AI technology has taken hold of the real estate industry, and most agents don’t want it to let go. In AI’s early days, RISMedia shared strategies for real estate professionals to experiment with the tech, and as we’ve kept documenting, agents have found ways to save time with AI. However, with the hype surrounding AI,… The post 3 Reasons Your Business Can’t Completely Rely on AI appeared first on RISMedia.

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Living Overseas Can Help You Earn More Money in Real Estate Over the Long Run—Here’s How

Bigger Pockets

The cost of living has been rising steadily over the last several decades, especially with inflationary pressures over the past couple of years. At this rate, is it easier to invest in U.S. real estate from overseas? The answer might surprise you.

Marketing 114
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Chaos, consolidation and opportunity: Experts weigh in on what NAR’s settlement means for the industry

Housing Wire

While many in the real estate industry were surprised by the news Friday morning that the National Association of Realtors had agreed to a nationwide settlement of the commission lawsuits for $418 million, Marty Green, a principal at law firm Polunsky Beitel Green , was not one of them. “It’s been evident since the jury in Kansas City delivered a multi-billion verdict, after barely a few hours of deliberations, that a global settlement including NAR was the only viable resolution,” Green wrote i

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94 brokerages left out of NAR commissions deal. What’s next?

Real Estate News

Top companies and MLSs outside the settlement can take part in a streamlined process to pay into a fund — but it could cost millions.

Brokerage 123
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5 Data Proven Ways Agents Can Do 18% More Business

Curious as to how you could do 18% more business? How about 14 more transaction sides per year? Check out this infographic with data from a RealTrends study to learn more.

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Jail ahead for ‘worst landlord on this planet’ over squalid rentals

Inman

The sheriff has been ordered to arrest a landlord twice named worst in New York City and bring him to Rikers Island for up to 60 days over hundreds of building violations.

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Consumer Sentiment Dips Slightly in March

RIS Media

While economic signs remain strong and experts have a positive outlook, consumer sentiment saw a slight dip in March. The dip, however, is not any cause for concern, according to experts. Consumer sentiment decreased 0.5% in March, following a 0.8% increase in February and two large leaps back in January and December. “Consumer sentiment moved… The post Consumer Sentiment Dips Slightly in March appeared first on RISMedia.

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U.S. News Listed Its 20 Hottest Real Estate Markets—Should You Invest in Any of Them?

Bigger Pockets

U.S. News released its annual list of the hottest real estate markets for the year. Here's a look at what's included and our take on the rankings.

Marketing 122
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Dividing a house in divorce can be costly and emotional

Housing Wire

If a couple decides to dissolve their marriage, something that is often described as a “third character” in the proceedings is the couples’ home. Finding a way to divide a home can be financially and emotionally fraught. And it often takes on more significance than other items due to the home typically being a couple’s most valuable asset — and because of the complex emotions often intertwined with it.

Equity 473
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How Enriching the Lives of Your Clients Leads to Greater Sales Success

Speaker: Ari Capogeannis, Director - Revenue Marketing at NVIDIA and Bill Pappa, Sales and Marketing Leader at Ai Media Group

Building strong personal and professional relationships with clients is a critical success factor. Sales professionals who focus on relationship building generate more leads and raise their brand awareness. Because this can take time, having regular engagements can help you cultivate these relationships more efficiently. The most effective way to accomplish this is through direct hyper-personalized touchpoints.